Overview of the Petroleum Industry - OPI
CPE Credits Awarded: 8
Categories: Oil Industry, Oil Supply and Trading
Those who attend will learn how companies search for crude oil and natural gas (exploration) and about how the material is brought up from underground (production). In addition, attendees will learn the basics of petroleum refining, transportation by vessel, pipeline, and truck, and be exposed to refined product marketing. Some discussion of the trading of physical crude oil and refined products is included in this course as well as the basics of "paper" trading.
Includes Web-based Pre-study Module
This course is accompanied by a preparatory course available online. Delegates will receive a web voucher as part of their joining instructions upon confirmation of registration. By taking advantage of this "blended" learning approach, in-class time and learning are optimized.
Delegates encouraged to attend include commercial, operations and marketing staff, planners, economists and government officials. The course is also of value to managers or potential managers, new entrants to the business, or those transferring from other energy sectors.
Various methods used to locate deposits of crude oil and natural gas
- Geological formations and how they were created
- World crude oil reserves - their size and location
- Reserves/production ratios
- Drilling methods
- Explanation of production vocabulary
- Offshore drilling methodology
- Primary, secondary and tertiary recovery methods
- Properties of crude oil
- Comparison of the value of various crude oils
- Products produced from petroleum refining
- The three major areas of a petroleum refinery
- Overview of various operating units in a "typical" petroleum refinery
- Information associated with ocean going oil vessels
- Basics of petroleum pipelines
- Moving petroleum by rail and by truck
- Distribution of petroleum products
- History and structure of the industry
- Oil pricing and markets
“Good course. Very thorough and great for someone new to the industry.” A.J., Aramco
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